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USDTRY Rallies And Resumes It Uptrend


Following today's surprise 200 bps cut, USDTRY rallied to a fresh trend high and above Tuesday's 9.3747 peak.

  • This confirms a resumption of the primary uptrend and with technical trend reading still in the bull camp, further upside is seen likely.
  • A key short-term support has been defined at 9.2050, yesterday's low, where a break is needed to suggest a short-term top.
  • Key upside levels to watch are:
    • 9.5304 2.00 proj of the Sep 22 - 29 - Oct 1 price swing
    • 9.6129 2.236 proj of the Sep 22 - 29 - Oct 1 price swing

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